Top 3 business stories on Sept 28: Walmart likely to invest Rs 6,600 cr in Flipkart to take on common rival Amazon in India and more

1. Walmart likely to invest Rs 6,600 cr in Flipkart to take on common rival Amazon in India

US retailing giant Walmart is in advanced talks to invest as much as $1 billion (Rs. 6600 crore) into Flipkart, says a report in a business newspaper. 

According to reports published in leading US financial journal Bloomberg, Walmart would pick up a minority stake in Flipkart. The final terms of the deal have not been worked out and negotiations are still underway, a source close to the deal said. 

Also Read: Walmart likely to invest Rs 6,600 cr in Flipkart to take on common rival Amazon in India

2. Tariff Wars: Airtel combats Reliance Jio by doling out freebies

The entry of Reliance Jio in the Indian telecom market has forced other major operators to redefine their market strategies so as to retain their premium customers.

On Wednesday, Bharti Airtel came out with lucrative packs that could virtually make incoming calls free on international roaming, for its subscribers who travel overseas. 

Also Read: Tariff Wars: Airtel combats Reliance Jio by doling out freebies

3. Indian stock markets record gains, banking and auto stocks recover

The BSE Sensex closed 69.11 points higher at 28,292.81, while the CNX Nifty of the NSE closed up 38.75 points at 8,745.15.

The upward movement in the market was triggered by Thursday's derivatives contract expiry for September.

Also Read: Indian stock markets record gains, banking and auto stocks recover